Question of the Day

When Kenneth and Gloria started their journey of faith they had questions too—lots of them! So, we've compiled the most frequently asked questions by people like you—people who earnestly desire to find God's answers to the practical, real-life challenges of everyday living. We have a new question every day, so check back often!

Is it wrong to file for bankruptcy?
Is it wrong to file for bankruptcy?
Add to Favorites

God’s will for His children is THE BLESSING—to be the lender and not the borrower, above only and not beneath (Deuteronomy 28:12-13). But if you’ve found yourself in a tough financial spot, take heart; there is deliverance available for you. 

If you’re in a place where a financial advisor has recommended that you file for bankruptcy, first and foremost seek the Lord, and if you feel a peace about moving forward, do so. But one thing is very important—watch your words.

Don’t ever declare you’re going bankrupt with your mouth, even if you file. Instead, keep speaking the Word of God. Bind the spirit of poverty and lack in the Name of Jesus. Declare over yourself, “I’m debt free. I’m wealthy. I’m walking in abundance.” And that’s all you say.

You can be delivered from bankruptcy supernaturally in the same way you received salvation, and any believer can receive deliverance or healing from any adverse situation. Take steps in the natural to get your finances in order, but stand on the Word, declare you are debt free, and seek God for what He would have you do. All things are possible with God for those who believe.

Regarding standing when you’re in financial trouble, Gloria Copeland says, “Even if you end up in a bankruptcy court, don’t quit believing. You don’t quit then. You sure can’t quit then. You’ve got to keep standing and believing God regardless of what you see with these eyes. We walk by faith. We walk by believing God's Word and not by sight. Faith doesn’t operate by sight.”

In the meantime, ask God to show you how to address your current situation. The wisdom of God can provide you a way out that you never would have thought of on your own. 

Related Articles:
10 Declarations for Financial Freedom
Scriptures for Beating Financial Pressure